For your custody needs, we have a quick and easy comparison of the most battle-tested and renowned cold storage hardware devices on the market. We selected either the latest model or the top device foreach leading company producing these hardware wallets.
The information below has been updated and reviewed as of April 2024.
PRO TIP: Make sure to get your hardware from a trusted source such as the actual company’s website. When you receive the device, always ensure that the boxing has not been tampered with.
Shift Crypto, the company behind the Bitbox02, was established in 2015 and is headquartered in Switzerland. It initially released the Bitbox01, which was superseded by the Bitbox02 in 2019. The Bitbox02 is assembled in Switzerland.
Although the Bitbox02 is more pricey than most devices, it is considered one of the most secure cold storage devices and with its great user experience, it has become viewed as one of the best cold storage devices in the market.
Trezor was founded in 2013 in Czech Republic. The start-up release two previous Trezors, Model One in 2014 and Model T in 2018, prior to releasing the new Model Safe 3 in 2023. Both older Trezors, Model One and Model T, are still being manufactured. All Trezor devices are assembled in Czech Republic.
The Trezor Safe 3 got a boost in security compared to the other two Trezor Models. The low price as well as the great user experience make it an overall great device for anyone and is also considered one of the best cold storage devices in the market.
Blockstream was incorporated in Canada in 2014. The company develops a range of Bitcoin related products. In 2021, it released its first cold storage hardware wallet: Jade. Currently, Blockstream’s Jade is assembled in China.
The weakness of the Jade is its user experience, mainly due to its very small screen and the rocker switch, which is cumbersome to move around the screen. Though it has an overall average user experience, it makes for a great candidate when opting for a more secure hardware, low cost cold storage hardware device.
Ledger was founded in 2011 and is headquartered in France. The organization launched in 2016 the Ledger Nano S and in 2019 the Ledger Nano X. In 2022, the Ledger Nano S was replaced by the Nano Ledger S Plus. Both, the Ledger Nano X and Ledger Nano S Plus are assembled in France.
Although the new Ledger Nano S Plus was released three years after the Ledger Nano X, the later remains the more secure device. The greatest weakness is that Ledger (the company) does not provide fully open source devices to its customers. In 2023, Ledger marketed their “Ledger recovery” for all their devices as tool to recover your private key should you lose it. However, this showed that there is a “back door” in the software and consequently makes it a critical attack vector.
For any user looking for a hardware wallet to store their Bitcoin, Bitbox02 is highly recommended for its superior user experience and robust security features. While the Trezor Safe 3 may fall slightly short in user-friendliness, it remains an excellent choice, especially for those seeking a more budget-friendly option.
